Rule No. 1: Don't wait more than 48 hours to make a Venmo payment after it's been requested.
When Manhattan-based Michael Tommasiello, 31, and his girlfriend split three years ago, a few months later he received a random Venmo request for “stuff” to the tune of $760.
This week, the money transferring app released its first set of behavior guidelines. Venmo PYPL, -1.77% and other peer-to-peer payment apps like Xoom and Cash App have made sending and receiving money easier, but they’ve also raised questions about the polite way to do it.All it takes is a tap on a phone screen to pay a friend back for dinner — but you could also offend them in the process.
If someone sends you a Venmo request with the wrong amount or you believe you’re being mischarged, point this out as soon as possible. “You can decline the request for the correct amount,” said Meier, who worked with Venmo to write the app’s new manners guidelines.If you don’t respond to a payment request after that, it’s considered ghosting, another big personal-finance faux pas.
Now, he says he won’t accept promises of large payments. And he won’t ask someone to Venmo him for anything more than a few hundred dollars — on a “good faith” basis anymore, and vows to have a written contract with his next roommate.On dates, 63% of Venmo users say the person who asks and picks the location is typically the one who should foot the bill, according to a survey the company conducted about Venmo manners. Still 30% of users agree the bill should be split, no matter what.
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